A fund transfer moves money between two of your own bank or cash accounts. Use it whenever money changes accounts but does not enter or leave the business: cash banked into your current account, money moved from one bank account to another, or a petty-cash float topped up from the bank. It is the simplest banking transaction in ZyncLedger. There is no customer or supplier, no products, no tax, and no income or expense: money simply leaves one account and arrives in another. The bookkeeper, the accountant, or the owner usually enters fund transfers.
Unlike a Bank Receipt (money coming in) or a Bank Payment (money going out), a fund transfer keeps the money inside the business, so your total cash and bank balance is unchanged: one account goes down, the other goes up by the same amount. If the transfer costs you a bank fee, you can record that fee on the same document.
Find fund transfers under Finance → Fund Transfers.
Before you start
- Both the from and to accounts must already exist in your Chart of Accounts, each with an account type of Bank or Cash. The two must be different accounts.
- To record a transfer fee, the Expense account you charge it to must also exist in the Chart of Accounts.
- You need the Create Fund Transfers permission, granted per user under Permissions. List Fund Transfers lets you open the screen, and Edit, Delete, View, and Print Fund Transfers cover the rest. See Users, seats & permissions.
Record a fund transfer
Open a new fund transfer
Go to Finance → Fund Transfers and select New Fund Transfer. The fund transfer form opens.
Check the template
The Template picker sits at the top of the form. ZyncLedger pre-selects your default fund transfer template, so you can usually leave it. The template decides which fields the form shows and how the printed voucher looks; switch it here if you keep more than one layout. See Print templates for how these are set up.
Choose the accounts
Set the two accounts the money moves between:
- From Account (required) — the account the money leaves. The list only offers accounts of type Bank or Cash.
- To Account (required) — the account the money arrives in, also Bank or Cash. It must be a different account from the From Account.
Set the transfer date
Enter the Transfer Date (required). This is the date the transfer posts to the ledger, so it decides which period the amounts fall in.
Set the transaction number
The Txn Number identifies the transfer. How you fill it depends on the number mode for fund transfers:
- Automatic (the default): the field shows Auto-generated and ZyncLedger assigns the next number when you save. Leave it alone.
- Manual: you type the number yourself. It is required and must be unique across all transactions.
See Document numbering to change the mode or set up a multi-series numbering scheme.
Add a reference and dimensions (optional)
Fill any of these if they help you find or report on the transfer later:
Field What it does Reference No Your own reference, such as a deposit slip or bank advice number. Branch Tags the transfer to a branch for reporting. Location Tags the transfer to a location for reporting. Enter the amount
Enter the Transfer Amount (required). This is the amount that leaves the From Account and arrives in the To Account. It must be greater than zero.
Record a transfer fee (optional)
If the bank charged you for the transfer, enter it in Transfer Cost. Leave it at zero if there is no fee. When the cost is above zero, an Expense Account field appears and is required: pick the account the fee is charged to (the list only offers accounts of type Expense, and it must differ from the From and To accounts). The fee is taken out of the From Account on top of the transfer amount.
Add a description (optional)
Use the Description at the foot of the form to note what the transfer is for.
Save
Select Save & Close to save and return to the list, Save & New to save and start another, or Save & Print to save and print the voucher. The transfer posts the moment you save.
What it posts
A fund transfer moves money without changing your total cash, so it credits (decreases) the From Account and debits (increases) the To Account by the same transfer amount. The entry balances on its own:
- From Account is credited by the transfer amount (plus the transfer fee, if any), because that is the total leaving it.
- To Account is debited by the transfer amount.
- If you entered a Transfer Cost, the fee is debited to the Expense Account you chose. This is the only part that touches your profit: it is a real cost, where the transfer itself is not.
Because both sides are balance-sheet accounts, a fee-free transfer never touches your Profit & Loss; it only reshuffles balances within the Balance Sheet. The entry flows through to the Trial Balance and the General Ledger, and appears on your banking reports. The transfer is saved with a status of Posted.
No cheque or deposit-slip step
A fund transfer is a straight account-to-account move, so it has no payment method and no cheque fields. Banking cash into your current account is recorded as a single transfer from your Cash account to your Bank account; there is nothing to deposit or clear afterwards. Cheques you receive or issue are handled on a Bank Receipt or Bank Payment, not here.
Tips & gotchas
Schedule a repeating transfer
For a transfer that recurs on a fixed rhythm, such as a weekly sweep to a savings account, open a saved transfer and select Schedule to set it up as a recurring entry. Fund transfers are one of the transaction types ZyncLedger can post on a schedule.
Fund Transfer or Journal?
A fund transfer is the quick way to move money between two bank or cash accounts and nothing else. If your entry needs to touch other kinds of accounts, or more than two accounts at once, use a Journal instead.
Deleting a transfer removes its postings
There is no reversing entry. Deleting a fund transfer sets its status to Deleted, zeroes its amounts, removes its lines from the ledger, and recalculates the affected account balances. ZyncLedger blocks the deletion, and blocks editing, if either side of the transfer has been reconciled on a Bank Reconciliation, or if the transfer date falls in a closed period, so that reconciled and locked history stays intact.
Related
- Chart of Accounts defines the bank, cash, and expense accounts a transfer uses.
- Bank Receipt records money coming into a bank or cash account from outside the business.
- Bank Payment records money paid out of a bank or cash account.
- Journal records a manual entry across any accounts when a transfer is not enough.
- Bank Reconciliation marks a transfer's lines as reconciled, which then protects them from deletion.
- Document numbering controls the transfer's transaction number.
